Allied Orion has secured another management assignment in One Real Estate Investment’s Texas residential portfolio. OREI tapped the property management company to manage its Canyon Grove Apartments in Grand Prairie, Texas.
Brad Schwartzmann, vice president of asset management for OREI, said in prepared remarks that the company selected Allied Orion due to its experience managing communities in the Dallas-Fort Worth market, as well as its previous success in managing other OREI properties.
The 310-unit community features one- and two-bedroom floorplans that range in size between 456 and 983 square feet, Deanna Wigley, regional vice president at Allied Orion, told Multi-Housing News. The units were built with walk-in closets, balconies or patios and optional covered parking, while select units also have wood-burning fireplaces and vaulted ceilings. Canyon Grove Apartments was also built with a pool, fitness center, clubhouse, business center, dog park, clothes care center, picnic areas and package lockers.
Located at 1960 W. Tarrant Road, the community is located just off the interchange between Interstate 30 and Highway 161. Canyon Grove is also located in between Dallas and Fort Worth, giving residents an approximately 20-minute commute to both cities’ downtowns. Wigley told MHN that the community was 96 percent occupied.
Wigley also told MHN that Allied Orion has plans for both exterior and interior projects to enhance the property, including exterior paint and repairs, roof replacement, landscape upgrades, implementing an interior water conservation program and unit upgrades.
TEAMING UP IN TEXAS
OREI’s selection of Allied Orion to manage Canyon Grove Apartments comes after two other recent management assignments. In July, Allied Orion was tapped by OREI to manage a 222-unit community in Austin.
A month prior, Allied Orion also added student housing to its management portfolio when OREI tapped the management company for its 192-unit off-campus student housing community in Bryan, Texas.
Loyal Proffitt, president of Allied Orion, said in prepared remarks that the company is nearing 3,000 units managed across 12 communities for OREI in multiple markets throughout Texas and the U.S. In total, Allied Orion’s management portfolio totals more than 24,000 apartment homes throughout the country.